Foreign Trade Policy of India

INDIA S FOREIGN TRADE POLICY 2009-14
 What is Foreign Trade Policy?The Union Commerce Ministry, Government of India announces the integrated Foreign Trade Policy FTP in every five year. This is also called EXIM policy. This policy is updated every year with some modifications and new schemes. New schemes come into effect on the first day of financial year i.e. April 1, every year. The Foreign trade Policy which was announced on August 28, 2009 is an integrated policy for the period 2009-14.

1. To arrest and reverse declining trend of exports is the main aim of the policy. This aim will be reviewed after two years. 2. To Double India's exports of goods and services by 2014. 3. To double India's share in global merchandise trade by 2020 as a long term aim of this policy.India's share in Global merchandise exports was 1.45% in 2008.

4. Simplification of the application procedure for availing various benefits 5. To set in motion the strategies and policy measures which catalyse the growth of exports To encourage exports through a "mix of measures including fiscal incentives, institutional changes, procedural rationalisation and efforts for enhance market access across the world and diversification of export markets.

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Cybex Exim Solution Pvt Ltd.

INDIA S FOREIGN TRADE POLICY 2009-14 Aim in General  The policy aims at developing export potential, improving export performance, boosting foreign trade and earning valuable foreign exchange. FTP assumes great significance this year as India's exports have been battered by the global recession. A fall in exports has led to the closure of several small- and medium-scale export-oriented units, resulting in large-scale unemployment.

INDIA S FOREIGN TRADE POLICY 2009-14 EPCG Scheme:  Re-fixation of Annual Average Export Obligation: Taking into account the decline in exports, the facility of Re-fixation of Annual Average Export Obligation for a particular financial year in which there is decline in exports from the country, has been extended for the 5 year Policy period 2009-14. Support for Green products and products from North East extended.

1. Obligation under EPCG scheme relaxed. 2. To aid technological up gradation of export sector, EPCG Scheme at Zero Duty has been introduced. 3. Export obligation on import of spares, moulds etc. under EPCG Scheme has been reduced by 50%.

1. 26 new markets added in this scheme. 2. Incentives under FMS raised from 2.5 % to 3 % 3. Incentive available under Focus Product Scheme (FPS) raised from 1.25% to 2%. 4.Extra products included in the scope of benefits under FPS

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For India to become a major player in world trade, an all encompassing, comprehensive view
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SL. NO. NAME ID NO.
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9 KHALILUR RAHMAN B 110203055
10 TOHIDUL ISLAM B 110203024
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...of the fastest developing economy (India) in the world has been facing a considerable amount of challenges; in the form of tackling the severe global economic melt down. A number of countries around the world have been severely affected (though at different degrees) as all major indicators of industrial production, trade, capital flows, unemployment, per capita investment and consumption have taken a hit. According to a World Bank estimate, a total of 53 million people more would fall into the poverty net this year and over a billion would go chronically hungry. Such other social implications of the recession would be also uncovered in the coming time.
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